Named the Complete Credit Card Solution, it consists of Mophie's iPhone case with a credit card reader at the bottom, and Intuit's GoPayment app, which takes care of the software side. It also integrates with Intuit's QuickBooks software, which lets you track invoices and payments.
It works as follows: You, a small business owner, apply for a Intuit Merchant Account that will let you process credit cards in a matter of minutes. The customers swipe the card through the reader attached to your iPhone, and sign their names on the iPhone touch screen. Finally, you send the customer an e-mail or text receipt. Intuit claims that its software processes the credit card "within seconds," after which the funds are deposited into the business's bank account.
The price of the Complete Credit Card Solution is $179.95 at Apple Retail Stores and soon, claim Intuit and Mophie, on Apple.com. GoPayment, which includes the Intuit merchant account, costs $12.95 per month, with a 1.7 to 3.7% discount rate and $0.30 to $0.34 per transaction fee. One account can enable up to 50 users. Finally, there are no long-term contracts, cancellation, gateway or setup fees.